12th Dec 2018 11:11
LONDON (Alliance News) - Evgen Pharma PLC on Wednesday said its interim loss widened slightly for its most recent half as it focuses on advancing trials.
For the six month to September 30, the drug development company posted a pretax loss of GBP1.8 million versus GBP1.7 million a year prior.
Despite the wider loss, Evgen described its financial performance as "in line with expectations".
As it is focused on the discovery of new drugs, the company did not generate any revenue in the six-month period.
"We were delighted with the positive breast cancer interim data showing good tolerability and efficacy in this very difficult to treat patient population and are hopeful that these trends will be maintained in the final analysis. With final read-outs of the STEM and SAS clinical trials due in the first and second quarter of 2019 respectively we are excited about the near-term prospects of the company," Chief Executive Stephen Franklin said.
Evgen shares were trading down 9.9% at 15.10 pence on Wednesday.
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